The UK has eased financial restrictions on Lukoil

This has been reported by Reuters.

The Office of Financial Sanctions Implementation has removed from the licence the requirement to direct funds to frozen accounts. The agency did not explain the reason for the change.

British companies can now continue to do business with Lukoil International and make payments to its accounts that are not subject to freezing.

At the same time, the OFSI emphasised that the change does not permit the transfer of these funds to Lukoil’s russian parent company. The licence, which has been in force since last November, remains part of the broader sanctions against russia and is due to expire on 25 August.

Source: Ekonomichna Pravda